Embraer wins new order for 30 jets valued at $2.2 billion
An undisclosed customer has boosted the Embraer backlog with a firm order for 30 E195-E2 medium-range jet airliners. The Brazilian aerospace manufacturer disclosed that the new order is set for delivery from 2022 and has a potential list price value of up to $2.2 billion.
After reporting an $89.7 million loss for Q1 2021, Embraer announced having signed a new contract for 30 firm E195-E2 aircraft with an undisclosed customer. The recent deal, which is valued at USD2.2 billion at the current list price, boosted the company's order list and ignited hopes to strengthen its positions in the market since the air travel recovery is projected to be led by efficient, emissions-friendly, and economical right-sized aircraft.
“[Air] carriers are aligning their capacity requirements. This is due to weaker demand, changes to the business/leisure mix, the impact of international border travel restrictions, and the need for greener airplanes. [...] The E2s are ideally suited for the new operating environment,” highlighted Embraer in its statement and counted that the recent agreement pushed firm orders of the largest Embraer E2 Family aircraft to a total of 183 jets along with a backlog of 164 planes putting a total firm order backlog to $14.2 billion.
In the latest investor update, Embraer reported that in Q1 2021 its revenues grew by 27.4% and reached more than $807 million in comparison to the same period in 2020. The company delivered 9 commercial aircraft and 13 executive jets and finished the quarter having total cash of $2.5 billion and net debt of $1.9 billion.
However, due to the continued uncertainty of the ongoing pandemic, Embraer decided to not provide the financial and delivery guidance for further quarters.
The 30 new Embraer E195-E2 jets would be included in the company‘s backlog of Q2 2021.
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